Identity, Verification, Stablecoin, Data, RWA

Crypto has matured technically, but its trust infrastructure still lags. The industry asks investors to finance opaque strategies on the basis of self-reported claims, static PDFs or audits that age by the hour. When assets, liabilities and flows cannot be verified in real time, capital depends on reputation — and reputations can fail.

The last cycle made that plain: FTX’s criminal trial established that more than $8 billion in customer funds were siphoned to Alameda, and Genesis’s bankruptcy filings showed $3.5 billion reportedly owed to its top 50 creditors, including hundreds of millions tied to yield programs.

The “black box” model also can’t scale to the market’s new tempo. DeFi’s own rebound was swift enough to make static PDFs obsolete: sector total value locked (TVL) climbed back above $100 billion in 2024 and peaked around $138 billion in December before retracing in early 2025 — volatility that demands continuous solvency and mandate checks, not quarterly snapshots.

Quarterly transfer volumes from 2024. Source: CEX.io

The urgency is amplified by how much capital now moves on and offchain. Stablecoins surpassed $200 billion in market cap in early 2025 and processed $27.6 trillion in transfers in 2024 — more than Visa and Mastercard combined — turning them into the settlement layer for crypto and, increasingly, cross-border commerce.

Real-world assets are coming onchain at pace: tokenized US Treasurys grew roughly 8x in 2023, and, in 2024–2025, major asset managers launched tokenized money-market funds that quickly amassed billions.

This influx of institutional capital signals a deeper demand for a standardized way to verify counterparties and activity before capital moves. Without such a standard, doing business onchain risks repeating the same opaque models that failed in the past.

From ‘trust me’ to ‘prove it’

The aforementioned flows require a standard for proving financial health that respects privacy and operates at market speed. Trust must shift from promises to cryptographic proof. Accountable, a new standard for real-time financial verification, proposes a new default: a neutral trust layer where institutions prove assets and liabilities privately before capital moves.

Built for both traditional and crypto-native desks, it replaces screenshots and delayed attestations with live, privacy-preserving proofs that counterparties can check and automate without exposing API keys, wallet maps or trading IP.

The change resembles the web’s turn to HTTPS. Browsers didn’t eliminate risk; they embedded cryptographic assurance into every session so users could transact confidently. Accountable applies the same logic to onchain finance.

Counterparties publish verifiable claims of solvency, performance and compliance, and capital routes to those who can prove it. This shift doesn’t just enable safer markets; it also lays the foundation for premium yield opportunities that are verifiable by design.

The architecture of verifiable privacy

Accountable’s architecture is built on the Data Verification Network (DVN), a privacy-preserving layer that powers proofs of both onchain and offchain activity. DVN connects to custodians, banks, exchanges and blockchains, then fetches or processes data inside secure enclaves.

Source: Accountable

Within those tamper-resistant environments, it generates attestations using techniques such as zkTLS and zero-knowledge proofs so a borrower can prove “assets ≥ liabilities” or “strategy within mandate” without revealing raw data.

Data owners retain control throughout. Proofs are generated locally; what to share and with whom is opt-in by design. Output granularity is adjustable — from peer-to-peer disclosures to gated data rooms to fully public, onchain proofs — so counterparties can calibrate transparency to the relationship. DVN does not issue proprietary risk scores, but integrates with rating agencies like Synnax as well as auditors, and, over time, auditors that can publish live, machine-readable reporting.

Real-time proofs to market access

DVN is the verification engine; two execution layers bring it to market:

  • Vault-as-a-Service (VaaS) is a modular framework for launching and managing capital natively onchain. Every vault is fully customizable — from access rules and interest models to collateral terms — and backed by real-time proofs from DVN. Strategy compliance and solvency checks are enforced at the smart-contract level, producing cryptographic audit trails as a byproduct of normal operation. Built for sophisticated allocators and credit originators who want transparency, flexibility and control.

  • YieldApp is a curated marketplace built entirely on DVN. It surfaces verifiable yield from vetted asset managers, borrowers and structured credit providers, exposing only opportunities that publish live proofs. Each listing includes a portfolio overview, verification levels and annual percentage yield (APY) at a glance, plus deep analytics like transaction histories, payment calendars, exposure breakdowns and risk metrics. For eligible participants, counterparties can share proofs privately via DVN, enabling bilateral diligence without leaking sensitive positions. Designed for allocators, YieldApp makes it easy to discover, assess and deploy into yield opportunities.

Source: Accountable

The YieldApp testnet launched on Sept. 1, 2025, on Monad, opening a curated set of verifiable vaults to a waitlist of more than 65,000 users. Early users can explore vaults backed by live data, filter by transparency and trial integrated workflows across lenders and borrowers. Later this year, the mainnet will expand vault strategies and institutional integrations.

What a verifiable market unlocks

For investors, verification compresses the diligence loop. Live solvency monitoring, collateral schedules and proof-of-reserves across on- and offchain accounts converge in a single dashboard. Instead of betting on narratives, capital can route to counterparties that continuously substantiate performance.

For borrowers and managers, publishing proofs becomes a competitive edge. Cryptographic attestations lower perceived risk, widen the lender set and improve pricing. Privacy is preserved as parties disclose validated claims without handing over proprietary data.

For protocols and enterprises, VaaS reduces time-to-market from months to minutes. Teams assemble custom structures, enforce reporting policies and satisfy institutional requirements with machine-verifiable trails. Because proofs are standardized, they can be composed, archived and compared across portfolios — an essential primitive for secondary markets.

As adoption of real-time proof spreads, yields can be screened not just by APY, but by verification strength, recency and compliance. Liquidity can concentrate where verifiability of the underlying strategy, and governance can codify minimum verification thresholds for treasuries.

If crypto is to become a durable part of global finance, it must retire the black box. Accountable delivers that foundation, embedding verifiability into the market’s core infrastructure and enabling applications to be transparent by design.

Find out more about Accountable

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